Spekulativer Zykliker mit KGV 5 - 500 Beiträge pro Seite

[MFC500]

Navistar is the US' largest combined commercial truck, school bus and mid-range diesel engine producer.

Gj 02/03 (31.10.)
Umsatz $7,3 Mrd (Vj 6,8), EBIT 91 Mio (Vj -615), Zinslast 136 Mio (Vj 154), Nettoergebnis -18 Mio (Vj -536)

Gj 03/04 (31.10.)
Umsatz $9,7 Mrd (Vj 7,3), EBIT 438 Mio (91), Zinslast 127 Mio (Vj 136), Nettoergebnis 247 Mio (Vj -18)

Die Anzahl der Aktien beträgt 80 Mio (voll verwässert). Die Nettogewinnentwicklung im Gj 04/05 stellt sich wie folgt dar:

FQ1: 18 Mio (Vj -14)
FQ2: 53 Mio (Vj 52)
Navistar erhöht seine Prognosen für das Gj auf 4,80-5,10 Gewinn je Aktie bei 11,4-11,7 Mrd Umsatz. Analysten erwarten bis dahin 4,66 je Aktie bzw 10,93 Mrd Umsatz.
FQ3: 64 Mio (Vj 50)
Das 9-Monats-EPS beträgt 1,78 Dollar.
Navistar bekräftigt die Jahresprognosen

Zum Ende des FQ3 verfügte Navistar über liquide Mittel iHv 1,3 Mrd, Lon-Term-Investments iHv 2,1 Mrd, Gesamtschulden iHv 8 Mrd (davon Long Term Debt 2,7 Mrd) und ein EK iHv 688 Mio.

Am 07.April hat Navistar mitgeteilt, daß sie ihre Jahresabschlüsse 2002-2004 korrigieren muss, ebenso die 9-Monats-Ergebnisse des Gj 05. KPMG wurd als neuer Auditor benannt. Aufgrund dieser Umstände können das SEC-Filing für das 4.FQ sowie das 1.FQ des lfd Gj nicht fristgemäß eingereicht werden (und stehen auch derzeit noch aus). Ergänzend teilte Navistar mit:

"Navistar emphasized that the known adjustments will not affect previously reported cash flows from operations on a restated basis. Business continues strong and in fact, March orders for Class 8 trucks were at record levels, totaling 10.856 (6.854 in February). Medium truck orders were the highest in 30 years, and by the end of April the production rate at Springfield plant will be 200 trucks per day and nearly the same at Chatham plant."

Am 10. Mai hat Navistar mitgeteilt, daß sie für das lfd Gj 05/06 ein Ergebnis oberhalb der Analysten-Schätzungen von $5,38 je Aktie bei 12,9 Mrd Umsatz erwartet. Der aktuelle Kurs liegt bei 26,1 Dollar, woraus sich ein KGV von 4,9 ergibt.

Fazit: Auf dem Kurs lastet derzeit die Unsicherheit im Zusammenhang mit den zu berichtigenden Jahresabschlüssen. Aufgrund der letzten Aussagen vom 10.Mai dürften diese keine negativen Überraschungen für das aktuelle Gj mit sich bringen. Insofern sollte der Kurs über deutliches Upside-Potential verfügen, sobald die überarbeiteten Abschlüsse bei der SEC eingereicht werden. Einziger weiterer Negativpunkt ist die vergleichsweise hohe Verschuldung bzw dünne EK-Decke. Dies sollte sich aber aufgrund der guten operativen Entwicklung im lfd Gj deutlich verbessern.

Hier noch eine aktuelle Investor-Präsentation:

http://www.sec.gov/Archives/edgar/data/808450/00008084500600…

[MFC500]

(dpa-AFX) Der Maschinenbauer und Nutzfahrzeughersteller MAN ist an einem Einstieg beim amerikanischen Konkurrenten Navistar interessiert. 'Wir wollen die Zusammenarbeit in absehbarer Zeit stärken, inklusive einer Beteiligung', sagte MAN-Chef Hakan Samuelsson in einem Interview mit der schwedischen Tageszeitung 'Dagens Industri' (Freitagausgabe).

Darüberhinaus führten die Unternehmen derzeit Gespräche über die vertiefte Zusammenarbeit im Motorenbereich. Ziel sei es, im kommenden Jahr eine gemeinsame Fabrik zu betreiben. Auch über die Zusammenarbeit bei Achsen und elektronischen Systemen werde verhandelt, sagte Samuelsson. 'Wer seine Hausaufgaben in der Lastwagenindustrie ordentlich gemacht hat, weiß, dass Größe ein Vorteil ist', sagte der MAN-Chef.

Außerdem seien beide Unternehmen daran interessiert, gemeinsam verschiedene asiatische Märkte wie China und Indien zu erschließen. 'Das langfristige Wachstum findet in Osteuropa und Asien statt', sagte Samuelsson. 'In Europa können wir weitere zwei bis der Prozent Marktanteil gewinnen, aber dann ist Schluss. Wir sind in Europa nicht allein auf dem Markt.

http://isht.comdirect.de/html/news/actual/main.html?sNewsId=…

[MFC500]

Westerburg, 02. Juni 2006 (aktiencheck.de AG)

Die Navistar International Corp. (ISIN US63934E1082/ WKN 886965), der drittgrößte Lkw-Hersteller in den USA, meldete am Dienstag, dass im Rahmen einer internen Bilanzprüfung keine Beweise für einen Betrug hinsichtlich Händlerrabatten im Geschäftsjahr 2005 gefunden wurden.
Wie der Konzern bekannt gab, wird er die Finanzberichte beginnend im Jahr 2002 bis zu den ersten neun Monaten 2005 sowie die Jahresberichte 2005 und 2006 bis Mitte Januar 2007 einreichen.

Darüber hinaus hat Navistar seine Absatzprognose für den nordamerikanischen Markt nach oben korrigiert. Im Geschäftsjahr zum 31. Oktober 2006 sollen nun 435.000 bis 440.000 Lkw verkauft werden, nach bisher erwarteten 425.000 Einheiten.

http://de.biz.yahoo.com/02062006/85/navistar-reicht-bilanzen…

[MFC500]

Navistar hat gestern einen Aktionärsbrief bzgl ihrer langfristigen Perspektiven veröffentlicht. Unter anderem wird bestätigt, daß man für das Gj 06 ein EPS von 5,38 je Aktie übertreffen will. Das GJ 07 soll noch besser ausfallen. Nachfolgend der vollständige Aktionärsbrief:

TO OUR SHAREOWNERS

We are writing to keep you abreast of how we are progressing toward our goal of becoming a $15 billion company with 10 percent segment margins in each of our businesses by 2009. This strategy has been in place for more than two years and much progress has been made during
this time. The strategy is threefold: Great products; Competitive cost structure, and; Profitable growth.

To accomplish what we've set forth, we must utilize the many strengths built by our 100-year-old company while at the same time making invisible the challenges inherent in a company that has needed to contract its cost structure and focus on markets for commercial trucks and diesel engines.

In 2006, we will take many more steps towards achieving our goal. As we said recently, we anticipate exceeding analyst expectations of $5.38 per diluted share for 2006. We also are positioning for a strong 2007 in spite of the anticipated softer demand for Class 8 trucks. Please take time to read the remainder of this mailer, which highlights just some of our accomplishments in 2005 and 2006 that we believe position us to achieve $15 billion and 10 percent segment margins in 2009 or before.

-----------------------------------------------------------

I would like to take this opportunity to bring you up to date on the progress we've made toward delivering great products, improving our competitive cost structure and growing our existing lines of business.

SUCCESS IN 2005: GREAT PRODUCTS

The cornerstone of any company is the greatness of the products and services it provides. In 2005, we developed and launched exciting new products that addressed a wide range of customer needs. We penetrated new areas of the medium truck market with the introduction of the International® CF Series of low-cab-forward trucks, which secured instant acceptance in the marketplace. We also launched two new medium truck products, the International® Class 6 4200 4x4 and the International® 4100 class 5 conventional, each well suited for the diverse applications of the utility industry. These trucks leverage the Diamond Logic® Electric system, a self-diagnosing system that brings integrated intelligence to truck operations.

We also made significant progress on the nation's largest pilot program to test diesel-electric hybrid medium trucks for utility and other applications. The integrated hybrid powertrain solution jointly developed by International and Eaton Corp. offers great economic and environmental benefits, including a potential 40 to 60 percent reduction in fuel use and emissions reductions to match.

Our engine products also enjoyed success in 2005. The Power Stroke® engine we design and manufacture for Ford Motor Company was honored when Truckin' magazine named the Ford Super Duty F-250 its "truck of the year." Our products continued to help drive Ford's industry-leading market share in the U.S. heavy-duty pickup market.

SUCCESS IN 2005: IMPROVED COMPETITIVE COST STRUCTURE

Major strides in improving our competitive cost structure were realized in 2005. In December 2004, we announced an agreement to collaborate with MAN Nutzfahrzeuge AG, a leading European truck and engine manufacturer. MAN, the company at which Rudolf Diesel developed the first diesel engine in 1893, has extensive expertise in big-bore diesel engines. Our collaboration with MAN offers us many opportunities to achieve savings in design, development, sourcing and manufacturing, and has enabled us to announce the development of our first big bore engine offering.

In June 2005, we announced plans to enter into a joint venture with Mahindra & Mahindra, a leading Indian manufacturer of multi-utility vehicles and tractors. This venture, finalized in early December 2005, will operate under the name of Mahindra International Ltd. and will provide the advantages of scale through its significant supply base in India for global sourcing of components and materials. Additionally, the joint venture's development center in Pune, India, with up to 300 engineers, will enable us to more efficiently manage the increasing cost of product development for trucks and buses.

In April 2005, a South American subsidiary acquired MWM Motores Diesel Ltda, a leading Brazilian diesel engine producer. MWM produces a broad line of medium- and high-speed diesel engines ranging from 50 to 310 horsepower which are used in pickups, vans, and light and semi-heavy trucks, as well as agricultural, marine and electric generator applications. The acquisition of MWM gives us the established scale and supply bases to improve the cost structure of our engine business.

SUCCESS IN 2005: MAJOR GROWTH INITIATIVES

The MWM acquisition also gives us the opportunity to broaden our customer base thanks to MWM's relationships with prominent names such as General Motors, Volkswagen and Nissan. It enables us to participate cost-effectively in the potentially huge market for dieselization of Class 5 and smaller vehicles in both North America and South America. By combining our resources, engineering expertise and product lines with those acquired from MWM, we will be able to meet increasingly tough emissions requirements, quickly and cost effectively. And we also will be able to develop products more efficiently to serve our customers in Brazil and other parts of the world.

Our second major acquisition in 2005 is also a growing business in an expanding market. We acquired Workhorse Custom Chassis, a leading manufacturer of chassis for motor homes and commercial step-van vehicles, along with Uptime Parts, a parts distribution network that supplies commercial fleets and RV dealers. The acquisition adds scale, provides the opportunity to grow our sales of diesel engines and parts, and enables us immediately to become a leading player in the growing chassis market for Class A RVs.

Our military business also showed significant growth. By the end of 2005, we had secured approximately $1 billion worth of orders in the global military market, thanks to a number of distinctive advantages, including consistently high quality, comprehensive product offerings and high-volume manufacturing efficiencies. Demonstrating our ability to leverage existing truck platforms in 2005 was our major contract win from the U.S. Army Tank-Automotive and Armaments Command (TACOM). Under the contract, using our existing International® 7000 Series platforms, we will provide up to 2,781 vehicles needed by the Afghanistan National Army, with a potential contract value of $467 million. We also will supply all the spare parts needed to support two years of scheduled maintenance. Other military successes included a five-year, $400-million truck contract with the Taiwan Ministry of National Defense, and a contract to deliver armored personnel carriers to the Israel Ministry of Defense.

Also making major contributions to 2005 growth were our financial services company and our parts and service organizations. Their outstanding teamwork helped to secure many impressive new business wins, including a three-year contract with Laidlaw, the largest pupil transportation company in the U.S. This contract provides for the purchase of up to 2,000 school buses as well as $28 million in parts and service each year. Our parts organization, which has grown its revenues every year for 14 consecutive years, continued its impressive record of growth and strong operating margins.

Our dealer network, with the most locations in the industry, maintained its record of excellence and again increased the number of locations dedicated to parts and service, driving additional profitable growth in a less cyclical part of the business. And for the fourth time in the last seven years, one of our dealers received the 2005 Truck Dealer of the Year Award at the American Truck Dealers Convention and Exposition.

CONTINUING ON THE PATH TO SUCCESS: 2006 AND BEYOND

GREAT PRODUCTS

As we moved into 2006, our new product pipeline continued to be very strong. In April 2006, we unveiled our first new heavy truck in nearly 30 years at the MidAmerica Truck Show. The International® ProStar(TM), set for production in January 2007, is the result of five years of development and $300 million in investment. Designed to provide best-in-class fuel economy, unparalleled driver satisfaction, unprecedented uptime and lowest cost of ownership, the International ProStar(TM) is destined to exceed the demands of our customers.

On the military front, the announcement earlier this year that the U.S. Army has narrowed the field of contractors to develop its next generation tactical military vehicle provides a perfect example of our success in this market. We were selected, along with Lockheed Martin Corp., to build demonstrator armored vehicles to replace the U.S. Army's aging fleet of Humvees.

Our new joint ventures with MAN and Mahindra & Mahindra are also driving new product opportunities. Working with MAN, we are developing a family of big bore engines that will be offered exclusively in International Class 8 highway tractors and severe service trucks starting in late 2007. Under the MaxxForce(TM) International Diesel Power brand, offerings will range from a four-cylinder, 2.8-liter engine up to the company's new offerings in the 11- to 13-liter class. MaxxForce engine powered International® brand commercial trucks in North America will offer proven air- and fuel-management technologies and exhaust gas recirculation (EGR) systems. With the addition of advanced aftertreatment systems, they will deliver uncompromised performance while meeting the 2007 EPA emissions standards for diesel engines.

CONTINUED IMPROVEMENTS TO OUR COST STRUCTURE

Our focus on continued improvements in our cost structure has not waned in 2006. Our work with MAN and Mahindra & Mahindra continues to surface opportunities for cost improvements through global scale and design and engineering efficiencies. We are confident that we will begin to realize significant cost reductions through these ventures in 2006. Additionally, we continue our focus on manufacturing labor improvements that will allow us to continue to grow our capacity in an improved cost position.

ADDITIONAL GROWTH OPPORTUNITIES

Our joint venture with Mahindra & Mahindra will produce a full range of new light, medium and heavy commercial vehicles, including trucks and school buses based on International's existing product platforms. This venture, which will utilize its own distribution channel as well as International's and Mahindra & Mahindra's overseas networks, gives us the opportunity to participate in the economic growth of India and the surrounding region, working with a partner of proven capabilities and reputation.

We are continuing to take advantage of high industry volume. Our March orders for Class 8 trucks were at record levels, totaling 10,856 units compared with 6,854 units in February. In addition, our medium truck orders in March were the highest monthly orders in 30 years. Strong demand continued in April as total orders for our International medium and heavy trucks and IC school buses more than doubled to 16,544 units from 7,548 units in April a year earlier. We anticipated that the record trends will continue until the 2006 production schedule is full.

Emissions reductions reflect a major area of market opportunity going forward as well. With 2007 emissions regulations only months away, we have more than risen to the challenge, thanks to our industry-leading emissions technologies. We have already conducted extensive and satisfactory tests of our 2007 technology, which will go into production in the fourth quarter of 2006.

Going forward, International truck and IC bus dealers will be able to compete in the California market, which many competitors left a year and a half ago due to the state's new emissions requirements. A major milestone occurred when the California Air Resources Board (CARB) granted International verification for its Green Diesel Technology® emission retrofit products. We are now re-entering this major state market from a position of technological leadership and with a great opportunity to gain market share for buses and a variety of work vehicles.

These positive steps in 2005 and 2006 demonstrate continued execution on our strategy of strong products, reduced costs and growth. We continue to develop exciting new products that directly address critical customer needs. Thanks to targeted acquisitions and strategic alliances, we have gained global scale and sourcing options that will continue to improve our cost structure. And we have expanded into new markets that take full advantage of our existing products, core competencies and technological leadership.

We hope you share the excitement for what this company achieved in 2005 and for what we are set to achieve in 2006 and beyond. Clearly, this company is on the path to achieving the goal we set forth in 2004: to become a $15 billion company by 2009, with commensurate profits. We have taken strong steps to achieve these goals, and are seeing tangible results from our efforts.

[MFC500]

hier noch der Link

http://biz.yahoo.com/bw/060605/20060605006193.html?.v=1

[02233]

Antwort auf Beitrag Nr.: 21.961.704 von MFC500 am 06.06.06 07:34:08

Weltmarktführer mit KGV 5. Börse kann so schön sein.

[MFC500]

(Dow Jones)--Die MAN AG, München, hat anders als in Finanzkreisen kolportiert keine Pläne für eine Beteiligung an der Navistar International Corp, Warrenville. MAN sei offen, die Zusammenarbeit mit dem US-Nutzfahrzeughersteller zu vertiefen, sagte der Vorstandsvorsitzende Hakan Samuelsson der "Frankfurter Allgemeine Zeitung" (FAZ - Montagausgabe). Eine Beteiligung sei denkbar, aber nicht am Unternehmen, sondern an gemeinsamen Projekten. Dass MAN eine Beteiligung am Unternehmen kaufen wollte, sei ein Missverständnis gewesen. Vorstellbar sei eine gemeinsame Fertigung für Motoren in den USA. MAN entwickele bereits Lkw-Antriebe für Navistar. "Ich kann mir Gespräche über eine Vertiefung der Kooperation vorstellen", sagte der Manager. Dies würde dann einen zweistelligen Millionenbetrag in Euro kosten. Zum Thema möglicher Akquisitionen hieß es, darüber spreche MAN nicht. "Darüber rede ich erst, wenn es etwas Konkretes gibt", sagte der Manager.

http://de.biz.yahoo.com/12062006/341/man-samuelsson-plant-be…

[MFC500]

Prudential Financial hat die Beteiligungsschwelle von 5% überschritten

http://www.sec.gov/Archives/edgar/data/808450/00011377740600…

[MFC500]

June 21 2006

WASHINGTON--(BUSINESS WIRE
The U.S. Environmental Protection Agency (EPA) today unveiled the first-ever series hydraulic hybrid diesel urban delivery vehicle, which will provide dramatic improvements in fuel economy and in emission reductions. The development of the hydraulic hybrid is the result of a partnership between the EPA, U.S. Army, UPS, International Truck and Engine Corporation and Eaton Corporation.

The EPA and UPS plan to evaluate the vehicle's fuel economy performance and emissions during a series of tests in 2006. In laboratory testing, the EPA's patented hydraulic hybrid diesel technology achieved a 60 to 70 percent improvement in fuel economy and more than a 40 percent reduction in carbon dioxide emissions, compared to a conventional UPS vehicle.

"EPA and our partners are not just delivering packages with this UPS truck - we are delivering environmental benefits to the American people," said EPA Administrator Stephen L. Johnson. "President Bush is moving technology breakthroughs from the labs to the streets. We are doing what is good for our environment, good for our economy, and good for our nation's energy security."

The EPA cited laboratory tests showing that the technology has the potential to dramatically improve the fuel economy of urban vehicles used in applications such as package delivery, shuttle and transit buses and refuse pick-up.

The EPA estimated that when manufactured in high volume, the added costs of the hybrid components could be recouped in less than three years through lower fuel and brake maintenance costs.

In the series hydraulic hybrid diesel, a high-efficiency diesel engine is combined with a unique hydraulic propulsion system, replacing the conventional drivetrain and transmission. The vehicle uses hydraulic pumps and hydraulic storage tanks to store energy, similar to what is done with electric motors and batteries in hybrid electric vehicles. Fuel economy is increased in three ways: vehicle braking energy is recovered that normally is wasted; the engine is operated more efficiently; and the engine can be shut off when stopped or decelerating.

The diesel hydraulic hybrid truck is potentially eligible to qualify for a tax credit that is up to 40 percent of the incremental cost of the vehicle under a provision of the Energy Policy Act of 2005 for medium- and heavy-duty vehicles.

UPS, International and Eaton have been working with the EPA and the U.S. Army's National Automotive Center on the hydraulic technology for several years.

"The hydraulic hybrid technology is quite promising and we're eager to see how the vehicle performs in a real-world setting," said John Beystehner, chief operating officer of UPS. "We have led our industry in testing alternative fuel vehicles because fuel conservation is critical to our business. We believe the impact of this initiative will go far beyond our industry."

UPS will test the hydraulic hybrid for the next several months. It will be used on a city route in the Detroit area, making daily deliveries to homes and businesses. Previously, UPS partnered with the EPA on its hydrogen fuel cell delivery vehicles, which have been part of the company's fleet since 2003.

"The diesel hydraulic hybrid concept has the potential to offer our truck customers something very unique - performance and near zero emissions with dramatic improvements in fuel economy," said Dee Kapur, International president - Truck Group. "International is pleased to be a part of the integration of this technology into the entire vehicle system to provide true value to our customers."

International has a history of close technical cooperation with the EPA Advanced Technology Division. In 2004, International, under a Cooperative Research and Development Agreement, began work on Clean Diesel Combustion technology to dramatically lower emissions inside the combustion chamber, minimizing the need for aftertreatment.

International is the number one truck manufacturer in the medium duty and school bus market. These vehicles are typically in a mode of stop-and-go operation, which is the optimal mode of operation for the diesel hydraulic hybrid. "To continue to be a market leader, we need to pursue technological advancements that provide benefits to our customers. The diesel hydraulic hybrid is just such a technology," Kapur said.

Eaton has been working with the EPA since October 2001 under a Cooperative Research and Development Agreement involving hydraulic hybrid systems. As part of the company's role in designing and developing hybrid technologies, Eaton engineers have been co-located at EPA's Ann Arbor, Mich. facility. Eaton is also working on a number of other hybrid vehicle initiatives with UPS, International and others.

"Eaton sees the series hybrid as a natural and exciting progression in the development of hydraulic hybrid systems," said Craig Arnold, Eaton senior vice president and president - Fluid Power Group. "We have developed a parallel hybrid system called the Eaton Hydraulic Launch Assist(TM) (HLA®) system that we plan to offer commercially starting in 2007. We believe this product will provide our customers with the confidence to consider the series hybrid when it is commercialized."

"Eaton continues to develop a number of hybrid hydraulic and hybrid electric vehicle technologies with wide-ranging customer applications," Arnold said. "We are committed to working with the EPA, our industries and our customers to create a cleaner, brighter future."

International Truck and Engine Corporation is the operating company of Navistar

http://biz.yahoo.com/bw/060621/20060621005712.html?.v=1

[MFC500]

Wednesday July 19, 7:22 pm ET

Navistar today reaffirmed its earlier guidance that the company expects diluted earnings per share for fiscal year 2006 will exceed $5.38 per share.

http://biz.yahoo.com/bw/060719/20060719006047.html?.v=1

[MFC500]

NYSE Grants Navistar Six Month Additional Trading Period to Complete Required Financial Filings with SEC

(BUSINESS WIRE)--July 24, 2006--

Navistar announced today that the New York Stock Exchange has granted the company up to a six month additional trading period through February 1, 2007 to complete and file its fiscal 2005 annual report on Form 10-K with the Securities and Exchange Commission, subject to reassessment during this time frame.
At present, it is anticipated that all restated financial results and the filing of the fiscal 2005 Form 10-K will be completed shortly before the filing of the fiscal 2006 Form 10-K, which is due to be filed with the SEC before January 16, 2007. The targeted completion dates may change as the process of finalizing the financial statements proceeds.

http://biz.yahoo.com/bw/060724/20060724005735.html?.v=1

[king daniel]

Antwort auf Beitrag Nr.: 23.013.001 von MFC500 am 24.07.06 18:39:59

Hallo,

also die Aktie kann mann ruhig als Müll bezeichnen, keine Dividende, Bonus o. äh. und dass schon seit Jahren, dass Jemand so eine Firma übernimmt glaube ich bei besten Willen nicht, aber Wunder gibt es immer wieder

Ciao

[MFC500]

Antwort auf Beitrag Nr.: 23.146.651 von king daniel am 28.07.06 10:19:28

Das liegt ja daran, daß die Fa in der Vergangenheit Ertragsprobleme hat. Du solltest den Blick lieber auf die Zukunft richten. Die Gewinnprognosen für das Fiskaljahr 06 wurden erst kürzlich bekräftigt. M.E. hält lediglich die leidige SEC-Geschichte die Aktie am Boden, wobei ich deren Wirkung klar unterschätzt habe wie der Kursverlauf seit Threaderöffnung zeigt. Auf der Kehrseite ist Navistar derzeit - unter Bezug auf die Prognosen für Fj 06 und 07 - eine der günstigsten AKtien.

[MFC500]

Aug. 2, 2006

Navistar obtained the required consent to amend its 3 year senior unsecured term loan facility totaling $1.5 billion to provide it with the additional flexibility to borrow the remaining balance of the loan facility and place such funds in escrow to repay, discharge or otherwise cure by December 21, 2006 any existing default under its outstanding 2.5% senior convertible notes. Navistar further announced that it gave an irrevocable notice to borrow on August 8, 2006 the remaining balance of the loan facility in an aggregate amount of $195 Mio. The funds will be placed in escrow and used to repay, discharge or otherwise cure defaults in connection with its 2.5% senior convertible notes.

Robert C. Lannert, vice chairman and chief financial officer of Navistar said "Borrowing the remaining balance available under the term loan facility and placing the funds in escrow provides Navistar additional flexibility to cure the existing defaults under the 2.50 percent senior convertible notes. This amendment to the facility also ensures that the defaults under the final remaining series of notes from the old capital structure will be eliminated no later than mid-December 2006, well in advance of the Navistar Financial Corporation bank revolver waiver maturity."

http://biz.yahoo.com/bw/060802/20060802006065.html?.v=1

[MFC500]

August 3, 2006

Navistar said Thursday it may lay off workers at a Canadian plant in 16 weeks. Navistar, which was required to give the early notice under Ontario law, said the possibility of layoffs at its Chatham, Ontario, heavy truck assembly plant is because of an anticipated market decline.

The company did not immediately disclose the number of workers that would be effected.

Navistar said the truck industry is currently buying ahead of stricter emissions regulations that go into effect in January. Sales could drop once the new rules take affect, the company said.

The Chatham plant is the company's primary source for its 9000 series heavy trucks sold under the International brand.

http://biz.yahoo.com/ap/060803/navistar_international_layoff…

[MFC500]

22.08.06

Navistar's International Truck & Engine will supply diesel engines for Ford's 2008 F-Series Super Duty pickup truck.

The new Power Stroke diesel engine will displace 6.4-liters, up from 6-liters now. It will be the first pickup engine in North America to use a high-precision, high-pressure, common-rail fuel injection system featuring piezo-electric injectors. Proven and first introduced in European diesel engines, these advanced injectors allow ultra-precise timing of fuel injection for quietness and better emissions.

"For the 2008 model year, Ford and International are introducing a new 6.4-liter Power Stroke diesel that reaches new levels of refinement for truck diesel engines," said Jack Allen, president, Engine Group, International Truck and Engine Corporation. "Our focus at International is on satisfying our customers and our corporate strategy of providing Great Products, Competitive Cost Structure and Profitable Growth. With great products, like the new Power Stroke, ushering in a new level of clean-diesel technology, we can deliver on this strategy."

http://www.thestreet.com/_yahoo/newsanalysis/automakers/1030…

[MFC500]

24.08.06

Navistar, Caterpillar settle lawsuits

(Reuters) - U.S. heavy-equipment maker Caterpillar said on Thursday that it had settled all pending litigation with Navistar.

Under the settlement, Caterpillar will get an up-front cash payment and a three-year promissory note from Navistar. The settlement is expected to result in an after-tax charge to Caterpillar of about $50 million.

The two companies also said they had signed a series of licensing and supply agreements.

The most important appeared to be an agreement to have Caterpillar's remanufacturing unit serve as Navistar's global remanufacturing service provider. Caterpillar has been expanding that machine-rebuilding business in an effort to reduce the cyclical nature of its earnings.

The legal disputes between Caterpillar and Navistar go back years, revolving around a variety of patent and pricing issues.

[MFC500]

Antwort auf Beitrag Nr.: 23.605.084 von MFC500 am 25.08.06 07:44:51

Ergänzung:

Navistar said the agreement is not expected to have a material impact on its financial position, cash flow or results of operations.

[MFC500]

August 28

(Reuters) - Navistar said on Monday it would lay off nearly 400 workers after Ford Motor Co., one of its key customers, announced it was cutting fourth-quarter production by 20%.
The company said 380 unionized workers at its Indianapolis engine assembly plant would be idled beginning October 2 as a result of the move. It said an undetermined number of non-union workers would also be laid off as a result of the production cuts.

Navistar builds the 6.0-liter V-8 diesel engine that powers Ford's F-Series Super Duty pickup.

http://biz.yahoo.com/rb/060828/manufacturing_navistar.html?.…

[MFC500]

Navistar teilte am Mittwoch mit, dass sie an ihrer Ergebnisprognose für 2006 weiter festhält. Bereits Anfang Juni hatte man diese Prognose bestätigt. Demnach rechnet das Unternehmen für das laufende Geschäftsjahr weiterhin mit einem Gewinn von mehr als 5,38 Dollar pro Aktie. Analysten prognostizieren derzeit ein EPS-Ergebnis von 5,40 Dollar.

Für das Geschäftsjahr 2007 gab der Konzern jedoch keine konkrete Schätzung ab, erwartet jedoch ein gutes Jahr. Analysten stellen hier aktuell ein Ergebnis von 2,07 Dollar pro Aktie in Aussicht.

Darüber hinaus liegt man laut Navistar im Plan, den Jahresumsatz bis 2009 auf einen Wert von 15 Mrd. Dollar zu steigern.

http://de.biz.yahoo.com/13092006/85/navistar-bestaetigt-erge…

[MFC500]

Und hier noch detaillierter, allerdings englisch:

Navistar Provides 3Q Update on Goal To Reach $15 Billion in Revenues with 10 Percent Segment Margins by 2009

Navistar today will provide the investment community highlights of its third quarter operating metrics as well as an update on its ongoing restatement process.

Daniel C. Ustian, Navistar chairman, president and chief executive officer, will discuss how Navistar is delivering on its goal of achieving $15 billion in revenues with 10 percent segment margins by 2009 with good returns at all points of the business cycle.

"We continue to aggressively implement our plan to deliver on our commitments with great products, achieving a more competitive cost structure and delivering profitable growth," Ustian said. "By leveraging what we have and utilizing what others have built, we are confident we can make our strategy a reality."

"Our new ProStar(TM) Class 8 heavy truck is an excellent example of great products," Ustian said. "Dealers at our national dealer meeting in Chicago last month were so enthusiastic about this exciting new heavy truck that they placed more than 1,200 orders. The ProStar(TM) offers best in class fuel economy, lowest cost of ownership and unprecedented uptime."

Ustian again reaffirmed that the company anticipates diluted earnings per share for fiscal 2006 will exceed $5.38 per share.

"We believe our future is extremely bright as we continue to capitalize on the strength of the industry and build on our core business through growth in markets that are counter-cyclical to our heavy truck business," Ustian said. "While we cannot be more specific due to the ongoing restatement process, we believe our three pillar growth strategy is on track as we continue to take cost out of the business, our military business continues to grow and we are preparing to begin production of additional XT models."

Navistar announced on April 7, 2006, that it would restate its financial results for the fiscal years 2002 through 2004 and for the first nine months of fiscal 2005. Bill Caton, newly-elected executive vice president and chief financial officer, will give investors and security analysts an update about the company's restatement process.

"We are working diligently with outside resources on our restatement and I want to stress that the accuracy of our financial statements is our number one priority," Caton said. "The magnitude and volume of items under review makes completing the required work for both the restatements and 2006 quarterly financial statements a challenging task. We are dedicating significant resources both internally and externally to this project. There are areas ahead of schedule, some areas right on time and others behind schedule. To keep our momentum going we have added more resources to the areas behind schedule."

Turning to current operations, Ustian said that worldwide shipments of International® brand medium, heavy and severe service trucks and IC brand school buses during the first nine months of fiscal 2006 totaled 98,900 units, a gain of 6.1 percent over the 93,200 units in the first nine months a year ago. Combined market share for the third quarter was 25.6 percent, down slightly from 26.3 percent in the third quarter a year ago. Historically, the fourth quarter has been the strongest for the company in terms of shipments and Ustian said the company anticipated that full year market share will be at or above year earlier levels, depending upon engine constraints.

Company officials will hold a conference call with analysts today beginning at 10:00 a.m. CDT to discuss business highlights for the third fiscal quarter ended July 30, 2006, and provide a strategic initiatives update. The call can be accessed via the company's Web site, www.internationaldelivers.com and clicking on the link on the investor relations page. A series of questions and answers dealing with company operations is attached to the end of this news release.

Following is a series of questions and answers dealing with company
operations.

Q1: When will you be able to quantify the impact of the restatement?

A: Given the number of items under review we do not feel comfortable quantifying the restatement until we file the financial statements.

Q2: Can you update us on where you stand with the NYSE?

A: The New York Stock Exchange has granted the company up to a six month additional trading period through February 1, 2007 to complete and file its fiscal 2005 annual report on Form 10-K with the Securities and Exchange Commission, subject to reassessment during this time frame.

Q3: Can you provide any information on what your plans are for your debt balance?

A: We intend to pay down $400 million of the $1.5 billion bridge facility by fiscal year-end.

Q4: Can you give us any update on your 2007 EPS guidance?

A: We will not give specific guidance for 2007 at this time. We do believe the actions we have put in place will make 2007 a good year.

Q5: How does a 100 basis points increase/decrease impact the post retirement benefits expense and the projected benefit obligation?

A: A change in the expected return on assets of 100 basis points would increase/decrease pension expense by $32 million and other postretirement benefits expense by $8 million annually. A 100 basis point change in the discount rate change would have an impact of less than $4 million on annual pension expense. The impact of a change of 100 basis points in the discount rate would increase/decrease the obligation for pension benefits by approximately $325 million and the obligation for other benefits by approximately $224 million.

Q6: You have a goal to reduce cost by $6,000 per truck and $600 per engine by 2009. Can you update us on your progress?
A: Due to the restatement process, we cannot give progress to the specific goals, but based on our strategic initiatives in globalsourcing, growing scale, strategic partnering with others, design changes, and a continued focus on manufacturing efficiencies we believe we are on track if not ahead to meet these goals by 2009.

Q7: In 2005, you acquired MWM and Workhorse and bought and sold some of your dealers as part of your dealer distribution strategy. What were the costs of those acquisitions?

A: In 2005, we paid approximately $580 million in total for MWM, Workhorse, and net dealer franchise acquisitions.

Q8: The company has said that it has reduced its fixed costs since 2002. Can you give some examples of improvements you have implemented?

A: In 2002, our Truck Costs of Goods sold composition was 10 percent fixed versus 2005 of 3.9 percent fixed. We have put productivity improvements in place such as line speed effficiencies, model alignment across facilities, new labor agreements and plant outsourcing.

Q9: What should we assume the company will spend on capital expenditures in 2006 and 2007?

A: For 2006 and 2007, we expect our capital expenditures to be within the $250 million to $350 million range per year.

Q10: What can we expect in performance from your 2007 engines?

A: We expect to achieve fuel economy, durability/reliability and performance neutrality with our 2006 engine. Our plan is to offset the decreased energy content of ultra low sulfur diesel fuel and the small fuel usage for active regeneration with improvements in the basic engine combustion system and electronic controls.

Q11: Can you provide an update on the negotiations with the UAW?

A: Union members failed to ratify the proposed contract that had been agreed to by the company and the union bargaining committee. We expect no impact to the business given the current contract runs through September 30, 2007. As is typical, we will begin discussions on a new UAW master contract mid-year 2007.

Q12: What is your anticipated 2007 pricing given the stringent federal exhaust emissions standards?

A: For our cab forward (CF) vehicle, prices are estimated to increase approximately $4,000. Prices for International mid-range diesel powered trucks and IC buses will increase $5,000 to $6,000 per vehicle and for International Class 8 truck/tractors with supplier engines, prices will increase $7,000 to $9,000.

Q13: Have you seen any year over year steel, precious metals and resin price increases in 2006?

A: Through July 31st, our unaudited year-to-date costs reflect $108 million for precious metals increases and $25 million for other commodity increases such as resins and petroleum products. Generally, we have been able to recover these increases in the marketplace via pricing performance.


http://biz.yahoo.com/bw/060913/20060913005254.html?.v=1

[king daniel]

Hallo,

das war´s wohl mit Navistar, MAN will Scania, und Navistar bleibt aussen vor, ich glaube es nicht, dass sich noch Jemand für die Firma interessiert, oder wie ich schon mal sagte, Wunder gibt es immer wieder, oder was meint Ihr?

Ciao

[MFC500]

Antwort auf Beitrag Nr.: 23.926.725 von king daniel am 14.09.06 10:08:56

Die - kurzfristige - Phantasie ist natürlich momentan raus, sofern dein Fokus nur auf eine mögliche Übernahme gerichtet war/ist. Für mich stand und steht allein die op. Entwickling im Vordergrund. Da sieht es unverändert gut aus, wenngleich Navistar aufgrund der SEC-Problematik derzeit keine detaillierteren Angaben machen kann. Darin liegt m.E. auch die Zurückhaltung am Markt gg dieser Aktie begründet. Die Zeit wird´s zeigen.

[MFC500]

Antwort auf Beitrag Nr.: 23.926.725 von king daniel am 14.09.06 10:08:56

Volkswagen lehnt MAN-Angebot für Scania ab
18.09.2006, 15:37:11

(Dow Jones)--Die Volkswagen AG hat das Übernahmeangebot der MAN AG für den schwedischen Konkurrenten Scania AB abgelehnt. Volkswagen habe "stets bekundet, dass die Investition in Scania strategischen Charakter hat und im industriellen Interesse des Konzerns liegt", teilte der Wolfsburger Automobilkonzern am Montag mit.

Eine Annahme des von MAN vorgelegten Übernahmeangebots für Scania entspräche diesem industriellen Interesse nicht. Deshalb lehne der Volkswagen-Konzern die Annahme ab und veräußere seinen Aktienanteil nicht. Volkswagen hält den Angaben zufolge an Scania 18,7% des Kapitals und 34,0% der Stimmrechte.

MAN hat in der Nacht zum Montag ein freiwilliges öffentliches Übernahmeangebot für die Scania AB vorgelegt. Insgesamt will MAN für den viertgrößten europäischen Nutzfahrzeughersteller 9,6 Mrd EUR in bar und in eigenen Aktien bezahlen. Sollte die Offerte erfolgreich sein, würde in Europa der größte Nutzfahrzeughersteller entstehen. Weltweit wäre MAN-Scania die Nummer drei.


http://www.vwd.de/vwd/markt.htm?u=0&k=0&sektion=news&awert=u…

[MFC500]

ROUNDUP: MAN erwartet weiter gute Lkw-Konjunktur

(dpa-AFX) - Mitten im Übernahmekampf um den schwedischen Konkurrenten Scania blickt MAN zuversichtlich auf die Nutzfahrzeug- Konjunktur im kommenden Jahr. Zwar werde 2006 voraussichtlich der Höhepunkt des derzeitigen Lkw-Booms erreicht sein, sagte MAN-Nutzfahrzeugchef Anton Weinmann am Dienstag auf der IAA Nutzfahrzeuge in Hannover. 'Wir blicken aber äußerst optimistisch ins Jahr 2007.' Die Konjunktur werde nach wie vor gut sein. Im laufenden Jahr erwartet die MAN-Nutzfahrzeugsparte Rekordzahlen beim Absatz von Lastwagen und Bussen.
(...)
Als Schwerpunktthemen der Branche nannte Weinmann alternative Antriebstechnologien und Super-Lastwagen. Der MAN-Nutzfahrzeugchef sagte, er rechne damit, dass der so genannte Eurocombi - deutlich längere und schwerere Lastwagen als bisher - auch in Deutschland auf die Straßen kommen werde. Sie würden aber die herkömmlichen Sattelmaschinen nicht verdrängen.

Quelle: dpa-AFX

der vollständige Artikel (ich habe mich auf die - indirekt - für Navistar relevanten Passagen beschränkt):

http://isht.comdirect.de/html/news/actual/main.html?sNewsId=…

[MFC500]

Hersteller sehen Nutzfahrzeugkonjunktur ohne Einbruch

Dienstag 19. September 2006

(ddp.djn). Die Nutzfahrzeugindustrie hat sich im Vorfeld ihres weltweit größten Branchentreffens optimistischer als erwartet zu den weiteren Konjunkturaussichten gezeigt. DaimlerChrysler beurteilte am Dienstag am Rande der IAA-Nutzfahrzeuge-Messe in Hannover die Perspektiven des europäischen Lkw-Markts im laufenden Jahr besser als bislang. Volkswagen stellte in einer neuen Langfristprognose in den nächsten drei bis vier Jahren ein Absatzplus von 50 Prozent in Aussicht.

Bereits seit mehreren Monaten erwarten Branchenexperten eine deutliche Nachfrageabschwächung der weltweiten Konjunktur für Nutzfahrzeuge. Bislang sind nachhaltige Signale, die ein solches Szenario stützen würden, aber ausgeblieben. Beobachter hatten befürchtet, dass Lkw-Kunden angesichts der demnächst anstehenden Einführung neuer Abgasstandards in Europa, Japan und den USA ihre Bestellungen vorziehen.

Auch der Präsident des Verbands der Automobilindustrie (VDA), Bernd Gottschalk, sagte, er bekomme «erfreuliche Signale für eine weiterhin gute Nutzfahrzeugkonjunktur». Anzeichen für eine zyklische Abwärtsbewegung sehe er derzeit noch nicht. Der bei Bosch für die Sparte Kfz-Technik verantwortliche Bernd Bohr erklärte zwar, er rechne zwar 2007 mit einer «gewissen Abflachung» der eigenen Aktivitäten im Nutzfahrzeugbereich. In den Jahren 2008 bis 2010 werde das Geschäft aber wieder stärker anziehen.

Ähnlich äußerte sich auch Andreas Renschler, der bei DaimlerChrysler für die Truck Group zuständige Vorstand: «Es wird zwar einen leichten Rückgang geben, ich sehe den Markt aber etwas optimistischer als zuvor». Insgesamt rechnet der Manager aber nach wie vor mit einer weltweit nachlassenden Lkw-Nachfrage im kommenden Jahr. In Nordamerika erwartet er dabei ein höheres Minus als in Europa. Der Rückgang werde aber weniger dramatisch ausfallen als 2001. Seinerzeit war die Lkw-Nachfrage um fast 50 Prozent eingebrochen.

http://de.biz.yahoo.com/19092006/336/hersteller-nutzfahrzeug…

[MFC500]

Dongfeng Chaoyang Diesel Co. (DCD), one of China's largest diesel engine makers, and MWM International Industria De Motores Da America Do Sul Ltda.(MWMI), a subsidiary of Navistar today announced that DCD has been licensed to manufacture and sell select diesel engines in China.

Under the licensing agreement, an MWMI affiliate and DCD will establish strategic cooperation in the areas of engine development and vehicle application for diesel engines on Chinese vehicles.

Specific terms of the agreement are not being disclosed by either company, and the agreement is subject to Chinese Government approval.

"I consider this strategic cooperation with DCD a big step forward in our growth strategy of utilizing our assets and what others have developed as we tap the growth markets in China," said Daniel C. Ustian, Navistar chairman, president and chief executive officer. "This aligns with our strategy of providing great products to our customers, and a competitive cost structure to assure profitable growth for investors."

Initial estimated annual volumes are expected to be 40,000 to 50,000 engines per year and start of production is forecasted in early 2008. The agreement may be extended to other engine families and other countries in the region.

"This agreement broadens our lineup and gains us valuable strategic global partners," said Mr. Zhao Zhuang, president of Dongfeng Chaoyang Diesel Co. "As a major diesel engine maker in China, we will continue to provide our customers with the world's leading lineup of light commercial vehicle diesel engines."

MWMI produces a broad line of medium and heavy duty diesel engines ranging from 50 to 375 horsepower for use in pickups, SUVs, vans, light, semi and heavy trucks, and buses as well as agricultural, marine and electric generator applications. OEM customers include a number of the most important corporations in the automotive, agricultural and industrial segments, including Ford, General Motors, Land Rover, Volkswagen, Volvo, Nissan, CNH and AGCO.

"The acquisition of MWMI last year broadens our global offering of engines and helps us to execute our growth strategy," said Jack Allen, president, International Engine Group. "Our licensing agreement with DCD reflects International Truck and Engine Corporation's stepped-up global sales and marketing efforts to grow our business around the world."

"We are establishing this strategic cooperation to use each other's strengths," said Waldey Sanchez, president and CEO of MWMI. "Our ability to grow outside of Brazil, share our technology and leverage our products to serve Euro certified markets is important, and our agreement with DCD reinforces the value we offer global markets."

International Truck and Engine Corporation, through its affiliated companies is the world's leading diesel engine maker across the 50 to 375 horsepower range. In North America, International and its affiliates have nearly 50 percent share of the diesel pickup engine market, and 40 percent of the market for medium-duty commercial trucks and buses. In South America, International and its affiliates have more than 50 percent market share in the mid-sized pickup/SUV segment and accounts for nearly 40 percent of all diesel engines produced.

http://biz.yahoo.com/bw/060928/20060928005384.html?.v=2

[MFC500]

Oct 11 (Reuters) - Navistar on Wednesday dismissed reports it was experiencing setbacks or delays with new heavy-duty diesel engines from Caterpillar designed to comply with looming U.S. emission standards.

Transport Topics, the American Trucking Association's weekly newspaper, reported last week that Navistar's new truck, the ProStar, would only be equipped with engines built by Caterpillar arch-rival Cummins Inc. for the first eight months after its debut next year.

The paper, quoting an official at Navistar's International Heavy Vehicle Center, said the delay came because Caterpillar was slow to provide test models of the new power-plant.

But Roy Wiley, a spokesman for Warrenville, Illinois-based Navistar said his company had planned all along to phase in engines on the ProStar, beginning with a Cummins power plant , then a Caterpillar offering eight months later and ending with the option of a new engine Navistar is building with Germany's MAN AG three to four months after that.


"Delay is not our word," Wiley said. "It's a programmed launch for our new ProStar. We're coming out first with a Cummins then a CAT then our own big bore. There is no change."

Wiley said two other heavy-duty trucks Navistar makes, the 8000 and 9000, would have the new, cleaner Caterpillar engines in them on a limited basis beginning in January, with even more availability in the spring.

A spokesman at Caterpillar, the leading U.S. supplier of heavy-duty and mid-range diesel engines, said his company had over 100 test engines in the field and they were "fulfilling their purposes and that is to evaluate those units in customer applications and make whatever adjustments that are required."

Like its competitors, Caterpillar is trying to drastically reduce the emissions its engines produce to comply with increasingly stringent rules from the U.S. Environmental Protection Agency.

Caterpillar has placed a huge bet on a clean-air technology known as ACERT, which reduces harmful emissions by sending filtered exhaust back into the engine.

All its rivals, including No. 2 Cummins and No. 4 Detroit Diesel Corp., a DaimlerChrysler (DCXGn.DE: Quote, Profile, Research) unit, have embraced a technology known as cooled EGR, which cuts emissions by sending what Caterpillar characterizes as "unfiltered exhaust" back into the engine.

"The 2007 ACERT program is sound," said Caterpillar spokesman Rusty Dunn. "We have confidence in our products and so do our customers and we're fully engaged with the EPA in the certification process for next year."

Separately, DaimlerChrysler denied it was having any trouble with CAT engines at its Freightliner truck-making unit.

Transport Topics had reported that Andreas Renschler, the head of DaimlerChrysler's truck unit, had said "CAT's '07 engines don't work." The company later said Renschler's comments "were taken out of context .... and do not accurately convey the company's most recent views" regarding Caterpillar's ACERT engines.

http://yahoo.reuters.com/news/articlehybrid.aspx?type=comktN…

[MFC500]

Friday October 20

Shares of heavy truck companies fell Friday, after Caterpillar cut its guidance for the full year and said it expects a slowdown in 2007, partly because of an expected drop in sales of heavy vehicles.

The heavy-equipment maker said the resulting dropoff in sales of truck engines, resulting from new diesel engine emissions regulations, will crimp its revenue growth next year.

http://biz.yahoo.com/ap/061020/heavy_trucks_sector_wrap.html…

[MFC500]

25.10.06

Navistar said that the heavy-duty diesel engine it's designed with Germany's MAN AG will be assembled at a new facility it is building in Huntsville, Alabama.

The U.S. company said that when the plant is up and running in 2008 it will employ 175 workers, who will assemble the six-cylinder, 11- to 13-liter engines its co-developed with MAN over the past few years.

The engines will serve as the powerplant for the largest trucks Navistar manufactures, the so-called "Class 8" big rigs that haul much of the long-haul freight over American roads.

Navistar already runs a plant in Huntsville, which makes V-6 and V-8 engines used for some of its smaller trucks as well as for Ford trucks and vans.

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn…

[king daniel]

Hallo zusammen,

Frage, es finden regelmäßig Umsätze in Frankfurt statt, was früher nicht der Fall war, ist da was im Busch, weisst jemand vieleicht etwas mehr darüber?

Gruß und ein schönes Wochenende

[MFC500]

Am 30. November gab es eine Unternehmenspräsentation bei der Banc of America Securities’ 2006 Credit Conference:

http://www.sec.gov/Archives/edgar/data/808450/00009501370601…

[MFC500]

(dpa-AFX) - Die Nutzfahrzeugsparte des DaimlerChrysler-Konzerns rechnet im kommenden Jahr mit einer deutlichen Abschwächung der Nachfrage auf dem wichtigen US-Markt. Im Bereich schwere Lastwagen sei mit einem Rückgang des Marktes um knapp 40% zu rechnen, sagte Nutzfahrzeug-Vorstand Andreas Renschler am Montag am Rande einer Veranstaltung in Detroit. Bei mittelschweren Lastwagen sei mit einem Minus von einem Viertel zu rechnen. Im laufenden Geschäftsjahr hatte die Branche von Vorzieheffekten wegen der bevorstehenden Einführung der strengeren Abgasnorm EPA 2007 in den USA und Kanada im kommenden Jahr profitiert.

Die US-Tochter Freightliner werde angesichts des Nachfrageeinbruchs daher im kommenden Jahr den Gürtel enger schnallen, sagte Renschler. So sollen die Kapazitäten im kanadischen Werk dramatisch zurückgefahren werden. Geplant sei der Abbau von bis zu 3.200 Arbeitsplätzen in den ersten Monaten des Jahres 2007. Freightliner hatte dies bereits Anfang Dezember in Nordamerika angekündigt. In der zweiten Jahreshälfte sei dann mit einer leichten Erholung des Marktes zu rechnen.

Ungeachtet des schwächeren Marktes bestätigte Renschler aber die langfristigen Prognosen. Demnach soll die Umsatzrendite in den kommenden Jahren bei durchschnittlich 7% liegen. Auch in Phasen des Marktabschwungs wolle die Truck Group ihre Kapitalkosten erwirtschaften. Im Klartext bedeute dies schwarze Zahlen bei den einzelnen Marken auch im kommenden Jahr. Unter dem Dach des DaimlerChrysler-Konzern beliefert Freightliner mit den drei Marken Freightliner, Western Star und Sterling den nordamerikanischen Markt (NAFTA-Zone), Fuso konzentriert sich auf Asien, Mercedes deckt den Rest der Welt ab.

http://isht.comdirect.de/html/news/actual/main.html?sNewsId=…

[MFC500]

Monday December 11

S&P Maintains Navistar Corporate Credit Ratings on CreditWatch With Negative Implications


NEW YORK (AP) -- Standard & Poor's Ratings Services said Monday its 'BB-' corporate credit ratings on North American heavy-duty and medium-duty truck producer Navistar International Corp. remain on CreditWatch with negative implications.

The ratings were placed on CreditWatch on Jan. 17. The company has no rated debt, having repaid virtually all public debt with a $1.5 billion unrated bank facility.

S&P's CreditWatch update follows Navistar's recent 8-K filing, which provided an update on its financial condition. The company indicated it had nearly $1.2 billion of cash on hand at the end of its fiscal year -- Oct. 31 -- and that it will pay down between $200 million to $400 million of debt by calendar year-end 2006.

"We expect the company to continue to focus on debt reduction over the intermediate term," said Standard & Poor's credit analyst Eric Ballantine.

Navistar is in compliance with its various bank agreements and is expected to remain so. The company was granted an additional six-month trading period by the NYSE that expires Feb. 1, 2007, and which is subject to reassessment during this time frame. If the company fails to receive further extensions, the company could face delisting.

Navistar continues to work with its new independent auditor, KPMG, on resolving accounting issues leading to restatements of financial results for fiscal 2002 through 2004 and the first nine months of 2005. Navistar has yet to file its 2005 annual report or 2006 quarterly financial results.

S&P said that although Navistar is currently unable to provide audited financial results, the ratings service believes the company continues to benefit from solid demand in the heavy-duty truck market. U.S. heavy-duty truck sales are up more than 10 percent so far in 2006, and were up more than 20 percet in 2005.

Sales are expected to soften next year, but cash generation should remain adequate, S&P said, and the company is expected to maintain a significant cash balance.

S&P expects to keep Navistar's ratings on CreditWatch until the company has filed its 2005 10-K and is current on all SEC financial reporting requirements.


http://biz.yahoo.com/ap/061211/navistar_s_p.html?.v=1

[MFC500]

Navistar Provides Update on 2006 Operations and Restatement Progress

Friday December 15

-World Wide Truck Shipments Up 14%;
-ProStar(TM) Truck Orders Top 2,000 Units;
-Total Engine Shipments Flat Despite 12% Decline In Ford Volume
-Company Intends To Contest Proposed New York Stock Exchange Delisting Action


Navistar today reported substantially increased truck shipments and relatively flat engine shipments for its fiscal year ended October 31, 2006.

Worldwide shipments of school buses, Class 6-7 medium trucks and Class 8 heavy trucks totaled 147,400 units, up 14 percent from the 129,600 units shipped in fiscal 2005. In addition, a total of 11,000 Class 4-5, small bus and stripped chassis for the motor home and step-van markets were shipped. The company did not participate in this market in 2005.

Navistar is the world's largest medium duty diesel engine manufacturer and the company's engine subsidiaries shipped a total of 519,700 engines, down slightly from fiscal 2005 volume of 522,600 engines. Shipments of diesel engines to Ford Motor Company were down by nearly 40,000 units.

Senior company executives later today will provide the investment community highlights of its fiscal 2006 operating metrics.

Daniel C. Ustian, Navistar chairman, president and chief executive officer, will discuss how Navistar is delivering on its goal of achieving $15 billion in revenues with 10 percent segment margins by 2009 with good returns at all points of the business cycle.

"With our fourth quarter improvements in market share in our core businesses, the performance of our other business units and the cash balances that we achieved, we have many reasons to be proud," Ustian said. "We are focused on delivering on our commitments by aggressively implementing a plan based on three strategic initiatives: creating great products, achieving a competitive cost structure, and delivering profitable growth," Ustian said.

Ustian noted that the company's fourth quarter combined market share was the highest for the company in the past five years.

"As we move forward, we remain committed to strengthening our core products by focusing on quality, investing in products that give us a sustainable competitive advantage and by getting the necessary volume to benefit from increased sales," Ustian said.

As previously reported, Navistar's preliminary year-end unaudited manufacturing cash and marketable securities as of October 31, 2006, was approximately $1.2 billion, as anticipated.

Ustian said that the company has received more than 2,000 orders for the new International ProStar(TM) Class 8 heavy truck that is scheduled to go into initial production in January. The ProStar(TM) offers best in class fuel economy, lowest cost of ownership and unprecedented uptime.

"There are so many exciting things happening at our company and we are continuing to move forward despite the distraction of the restatement process," Ustian said.

Concerning the restatement process, Bill Caton, executive vice president and chief financial officer, said "we are committed to accurate financial statements and we will continue to devote the necessary time and resources to achieve that goal."

Caton said those resources have included the hiring of more than 50 new employees in the accounting area and the continued use of Huron Consulting Group as consultants to the company's accounting management.

"We have made significant progress on completing the restatement of our financial statements while at the same time strengthening accounting processes throughout the company," said Caton. "The efforts to address our accounting issues and our commitment to accuracy will extend the completion of our 2005 financial statements beyond February 1, 2007, which will then be followed by the completion of our 2006 financial statements," Caton said.

The company does not plan to comment on its 2006 results until its financial statements are completed.

The company has continued to update the New York Stock Exchange on its progress in completing its financial statements and has been advised by the exchange that it expects to suspend trading in Navistar's stock by December 20, 2006, and begin procedures to delist the company from the exchange. The company plans to contest those actions. The company has advised the NYSE that it anticipates being quoted on the Pink Sheet Electronic Quotation Service following the suspension.

Caton noted that the company's relationship banks have again expressed their support by granting a waiver that extends the financial statement filing requirement in Navistar Financial Corporation's $1.2 billion revolving credit agreement to October 31, 2007. NFC continues to access this revolver and the parent operating company has its $1.5 billion loan facility in place until it matures in March 2009. Caton also said that the company anticipates refinancing this facility prior to maturity to obtain lower borrowing costs. Additionally, the company intends to pay down $200 million of its $1.5 billion loan facility by the end of calendar 2006.

http://biz.yahoo.com/bw/061215/20061215005336.html?.v=1

[MFC500]

und noch zwei News vom Freitag:

Navistar CEO signals openness to buyout offers

CHICAGO (Reuters) - The top executive at Navistar signaled on Friday that the company, which has been struggling to get its finances in order, was open to buyout offers.
"If you've got a lot of money, come over and see us," Navistar Chief Executive Dan Ustian said after an analyst asked whether any parties had expressed interest in helping management take the company private. Ustian would not say whether the company had been approached.

The question came up in a conference call with investors to talk about Navistar's announcement that it won't meet its own deadline for filing delayed financials.

http://biz.yahoo.com/rb/061215/navistar_restatement_buyout.h…



Standard & Poor's said on Friday that Terex Corp will replace Navistar in the S&P 500 index after the close of trading on Tuesday, December 19.

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn…

[MFC500]

Dec 19 (Reuters) - The New York Stock Exchange said on Tuesday that it will not delist the shares of Navistar as originally scheduled for Wednesday, pending the company's appeal.

The NYSE said the truck and engine maker had formally requested a review of the delisting, which was announced last week after Navistar warned it would miss its own deadline for filing delayed financial reports.

The exchange said the review would be heard on January 30, 2007 and, until then, Navistar's stock and convertible junior preference stock, series D, would continue to trade on both the NYSE and NYSE Arca.

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn…

[MFC500]

Navistar Receives $1.3 Billion Loan Commitment

Thursday January 4

Navistar International Corporation reported today that it has received a commitment for a five-year senior unsecured term loan facility and synthetic revolving facility in an aggregate amount of $1.3 billion. The facilities will be provided by J.P. Morgan Chase Bank and a group of lenders that includes Credit Suisse, Banc of America Securities and Citigroup Global Markets.

The new loan facilities, which expire in January 2012, and will replace the company's existing senior unsecured $1.5 billion Credit Agreement, which expires in March 2009. Navistar will use the proceeds of the new facilities to repay the remaining amount outstanding under the existing loan facility. On December 29, 2006, Navistar voluntarily repaid $200 million of the $1.5 billion Credit Agreement.

"We are very pleased with the ongoing support of our lenders and relationship banks," said Bill Caton, Navistar executive vice president and chief financial officer. "This new lending commitment is a real vote of confidence in the company. The new loan facilities will enhance our liquidity and provide additional stability in our overall capital structure at a lower cost."

Caton and Terry Endsley, senior vice president and treasurer, will make a presentation to investors at 10:00 a.m. EST on Friday, January 5, 2007, to review indicative terms and conditions of this commitment and discuss recent company and industry performance. The presentation can be accessed via listen-only telephone. The dial in number is 866-244-0365 (Int'l #: 850-429-1277) ID #: 8404. The presentation slides can be accessed at http://ir.navistar.com. Investors are advised to log on to the Web site at least 15 minutes prior to the presentation to allow sufficient time for downloading the presentation.

http://biz.yahoo.com/bw/070104/20070104005475.html?.v=1

News of the loan helped send Navistar shares 3.3% higher to close at $35.58, a level not touched since April 2005.

[MFC500]

eine neuerliche Präsentation:

http://www.sec.gov/Archives/edgar/data/808450/00009501370700…

[MFC500]

erstmals seit Threaderöffnung notiert die Aktie oberhalb von 40 Dollar, das entspricht einem Zuwachs von rund 53% innerhalb eines halben Jahres. Vom zwischenzeitlichen Tiefpunkt aus hat sich die Aktie sogar annähernd verdoppelt

[DonnaLocca]

Antwort auf Beitrag Nr.: 27.036.268 von MFC500 am 19.01.07 17:35:01

n-tv News: Plan B von MAN ist Navistar:

Freitag, 19. Januar 2007
Alternative zu Scania
MAN schielt auf Navistar

Im Übernahmepoker um Scania bereitet der Münchner MAN-Konzern Alternativen zu einem Kauf des schwedischen Nutzfahrzeug-Herstellers vor. Das berichtet die Wirtschaftszeitung "Euro am Sonntag". "Der Konzern stellt sich auf verschiedene Möglichkeiten ein", zitiert das Blatt aus Aufsichtsratskreisen. Danach habe der Aufsichtsrat den Vorstand auf seiner Sitzung am 14. Dezember in der Augsburger Zentrale der Konzern-Tochter MAN Diesel beauftragt, "eine deutliche Ausweitung der Kooperation mit dem US-Truckhersteller Navistar zu prüfen".

Dabei gehe es "um die gemeinsame Fertigung von Lkw-Motoren im Rahmen eines Joint Ventures". Bislang arbeiten beide Unternehmen bei der Entwicklung neuer schadstoffarmer Motoren für den US-Markt auf Basis der MAN-Baureihen D20/D26 zusammen. Zudem übernimmt MAN in seinem Nürnberger Werk auch die Fertigung der Vorserien-Motoren für Navistar.


"Wenn Scania nicht klappt, dann wird das Thema Navistar forciert. Das ist der Plan B ", sagte eine mit den Vorgängen vertraute Person zu "Euro am Sonntag". Bereits im vergangenen Mai hatte MAN-Chef Hakan Samuelsson in einem Zeitungsinterview einen Ausbau der Kooperation mit Navistar in Aussicht gestellt "inklusive einer Beteiligung".

"Keine Synergien zwischen Lkw und Turbinen"

Die breite Aufstellung von MAN gehört für die schwedische Seite zu den zentralen Problemen bei einer bei einer möglichen Fusion mit dem Nutzfahrzeughersteller Scania. "Man kann wohl sagen, dass es keine Synergien zwischen Lastwagen und Turbinen gibt", sagte der Chef der Finanzgesellschaft Investor, Börje Ekholm, der schwedischen Zeitung "Dagens Nyheter" mit Blick auf die Aktivitäten von MAN in den Bereichen Turbinenbau, Dieselmotoren und Industrieservice.

Investor-Sprecher Fredrik Lindgren betonte allerdings, dass eine Aufspaltung von MAN nicht zu den Forderungen Investors bei den derzeitigen Kontakten mit VW als größtem Anteilseigner beider Nutzfahrzeugkonzerne gehöre. "Für uns steht jetzt im Zentrum, dass wir eine Klima für offene und konstruktive Gespräche bekommen. Dazu würde so etwas nicht passen."

Eine mögliche Aufspaltung des Konzerns hatte Samuelsson bei seinen Plänen für eine Übernahme von Scania stets ausgeschlossen. Ekholm sagte dazu: "Es ist natürlich wichtig, dass man die richtige Struktur bei einer Fusion findet." Generell falle es "reinrassigen Unternehmen leichter, nicht die Konzentration auf den Ball zu verlieren".

Bei der Vorstellung der Investor-Bilanz am Donnerstag hatte der Investor-Chef die Rücknahme des in Schweden als feindlich eingestuften und abgelehnten MAN-Übernahmeangebotes in Höhe von 10,3 Milliarden Euro gefordert. Dies sei zentrale Voraussetzung für die Schaffung eines "freundlichen" Klimas, damit beide Unternehmen in Ruhe und ohne Zeitdruck über ein Zusammengehen verhandeln könnten.

[MFC500]

Antwort auf Beitrag Nr.: 27.037.632 von DonnaLocca am 19.01.07 18:40:01

Plan B von MAN ist Navistar

würde mich nicht verwundern

[MFC500]

Navistar International and Monaco Coach Corp (MNC) have agreed to form a joint venture to manufacture rear-engine diesel chassis, the companies said. Navistar's International Truck & Engine unit will hold a 51% interest in the venture to be oriented toward the recreational-vehicle market, and Monaco Coach will own 49%. Plans call for the joint venture to manufacture more than 5,000 diesel chassis at an Elkhart, Ind., facility in the first year, with production to begin in February. Financial terms were not disclosed

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7bA6D…

[MFC500]

January 26
JPMorgan Initiates Coverage of Heavy Truck Companies, Selects Paccar As Top Pick

(AP) -- A JPMorgan analyst on Friday initiated coverage of several heavy truck manufacturers, saying that 2007 will be a challenging year for the sector. Stephen Volkmann said that the stock have held up very well considering Wall Street's overall negative view of the sector, but said that view is largely justified.

"We think the market's got it right -- 2007 will be a challenge as the industry nurses the hangover from the 2006 pre-buy, but 2008 and 2009 look to be strong years again as the industry braces for the next set of emissions requirements in 2010," Volkmann wrote in a note to investors.

Truck companies and other heavy equipment manufacturers stocked up on diesel engines toward the end of 2006, in anticipation of stricter emissions standards that became effective in 2007. The standards also made the engines more expensive.

"While there could be some near-term volatility as the industry deals with the sharp expected drop in first-half 2007 production, truck stocks should have reasonably good visibility to new highs beginning later in 2007."

Although the first half of 2007 could be tough, Volkmann said that the truck-related stocks should be strong performers compared with the rest of the larger heavy machinery sector.

Volkmann rated named Paccar Inc. as its top pick in the group and rated it "Overweight," along with Navistar International Corp.

[...] (Paccar betreffend)

The analyst said that while Navistar is selling at a discount compared with its peers, the company hasn't filed financial reports for two years and carries with it some risk as a result.

Volkmann rated both Cummins Inc. and Commercial Vehicle Group Inc. at "Neutral," saying that both companies' exposure to markets outside of heavy trucks could limit their earnings growth.

http://biz.yahoo.com/ap/070126/truck_companies_analyst_note.…

[MFC500]

So, das war´s von meiner Seite. Allen Investierten weiter steigende Kurse.